Jive Software swings to loss but still tops Wall Street expectations

Summary:Wall Street was bracing for a loss at 11 cents per share on a revenue of $42.07 million.

Jive Software reported second quarter earnings after the bell on Thursday.

The software company ended up with a net loss of $14.6 million, or 21 cents per share (statement).

On a non-GAAP basis, the loss was seven cents per share on a revenue of $43.4 million, up 23 percent year-over-year.

Wall Street was bracing for a loss at 11 cents per share on a revenue of $42.07 million.

Despite beating expectations, CEO Tony Zingale explained in the report that Jive "experienced a more challenging sales environment that resulted in elongated sales cycles, including several larger opportunities that did not close by the end of the quarter."

Zingale continued:

We are continuing to execute against our go-to-market strategy and although it has been well received by customers we believe it will take additional time to fully recognize the benefits in our results. We remain enthusiastic about the long-term prospects associated with the global enterprise communication and collaboration market. We believe we are well positioned to capitalize on this opportunity with our unmatched platform, functionality and track record of delivering customer success.

For the current quarter, Wall Street are expecting losses to continue at a dime per share on a revenue of $44.06 million.

Jive followed up with a revenue guidance range of $44.0 million to $45.0 million and an expected loss between eight and 10 cents per share.

Topics: Enterprise Software, Apps, Cloud, Data Management, Software

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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